A specialist recruitment firm has secured funding to support the business over the coronavirus outbreak.
Rochdale-based Bamford Contract Services has secured a £150k Coronavirus Business Interruption Loan (CBILS) from NatWest after the businesses construction sector activities all but ceased due to lockdown.
The recruitment firm said it is still operating most of its manufacturing services to support businesses which are critical suppliers - but has had to furlough almost 50% of its own staff.
Steve Berry, managing director of Bamford Contract Services, said: “We very quickly recognised that we needed financial help soon if the business was to survive a sudden and substantial downturn in trade.
"The additional funding would be used to help provide sufficient cashflow to cover those overheads that cannot be reduced or deferred in the short to medium term.
"In addition, it will also provide the immediate cash to pay furloughed staff, and where applicable, furloughed temporary workers, until receipt of the corresponding refunds from HMRC once their portal is up and running."
Established in 1989, Bamford Contract Services provides temporary, contract and permanent staffing solutions to the construction, industrial, engineering, food and commercial industries.
Mr Berry added: “Thanks to the speed and efficiency of NatWest in processing our CBILS application and with the funding now in place, we can provide our staff with job security whilst we start to plan our recovery.
"We now have the financial stability, security and confidence to carry the business through this pandemic and fully expect to resume full service to our clients and Temporary Workers once things return to normal.”
NatWest relationship director Guy Boxall added: “We were delighted to support Bamford Contract Services with this funding which will sustain the business over this period.
"We have a great relationship with Steve who is incredibly passionate about his business and is committed to supporting the team he has working for him, and we look forward to continue working with Steve and Bamford Contract Services in the future.”
The deal was supported by Paul Stringer from Cowgills Accountants.
